A Strong Trading Mind
- Thread starter amitrandive
- Start date
Trader Psychology Questionnaire
Rate Your Personal Psychology for Peak Performance Trading
http://www.tradersstateofmind.com/questionnaire.html
Below you will find a 20 item questionnaire that will help you assess your current readiness for success in peak performance trading. This questionnaire will need to be printed and then filled out, click here for a printable PDF of the Questionnaire. This is not a test. Answer honestly. It is designed to help you evaluate whether your personal psychology is helping you or hindering your growth as a successful trader. And it will show you where improvement is needed to master the inner game of trading.
Directions:
Read each statement and circle a number between 1 and 5 that best describes your agreement with the statement.
Where: 1 = Rarely, 2 = Sometimes, 3 = Typically, 4 = A lot, and 5 = Almost Always.
After you finish the questionnaire, add up the numerical value you assigned to each statement. Copy this number into the Total Aggregate Score Box. Let's get started.
1.) I wake up or go to sleep worried about my trading.
2.) I let yesterday’s trades influence my current decisions.
3.) I am worried that my capital will not survive my learning curve.
4.) I spend my profits before I have realized them.
5.) I have a hard time pulling the trigger because I second guess myself and/or fret about losing another trade.
6.) I catch myself trading outside the rules of my methodology.
7.) My heart rate and blood pressure go through the roof as I trade.
8.) I feel the need to make up for prior losses.
9.) I can do simulation trading well, but not once I start trading with my capital.
10.) I have difficulty acknowledging my mistakes and/or learning from my mistakes.
11.) I was trading fine until I raised the number of my contracts.
12.) I get impatient waiting for a trade.
13.) Trading mistakes I make seem obvious to when I later review them, but I don't seem to learn from them.
14.) Trading has become a chore and unenjoyable.
15.) I over trade after a windfall which causes me to give back my earnings.
16.) I’m losing money in my trading despite having a reliable methodology.
17.) I feel tense or sick to my stomach when I trade.
18.) I keep making the same trading mistakes – I don’t seem to learn.
19.) I move my stops and targets in my trades.
20.) I become conservative once I win and stop trading even if I haven't reached my plan goal.
________________________
________________________ Total Aggregate Score (add all your responses together)
_________________________ Subscale F-SD Total (1,3,5,7,9,11,14,17,20). Add these together.
_________________________ Subscale G-I Total (4,6,8,10,12,15,18). Add these together.
_________________________ Subscale F-SD/G-I (2,13,16,19). Add these together.
Check your results here
Rate Your Personal Psychology for Peak Performance Trading
http://www.tradersstateofmind.com/questionnaire.html
Below you will find a 20 item questionnaire that will help you assess your current readiness for success in peak performance trading. This questionnaire will need to be printed and then filled out, click here for a printable PDF of the Questionnaire. This is not a test. Answer honestly. It is designed to help you evaluate whether your personal psychology is helping you or hindering your growth as a successful trader. And it will show you where improvement is needed to master the inner game of trading.
Directions:
Read each statement and circle a number between 1 and 5 that best describes your agreement with the statement.
Where: 1 = Rarely, 2 = Sometimes, 3 = Typically, 4 = A lot, and 5 = Almost Always.
After you finish the questionnaire, add up the numerical value you assigned to each statement. Copy this number into the Total Aggregate Score Box. Let's get started.
1.) I wake up or go to sleep worried about my trading.
2.) I let yesterday’s trades influence my current decisions.
3.) I am worried that my capital will not survive my learning curve.
4.) I spend my profits before I have realized them.
5.) I have a hard time pulling the trigger because I second guess myself and/or fret about losing another trade.
6.) I catch myself trading outside the rules of my methodology.
7.) My heart rate and blood pressure go through the roof as I trade.
8.) I feel the need to make up for prior losses.
9.) I can do simulation trading well, but not once I start trading with my capital.
10.) I have difficulty acknowledging my mistakes and/or learning from my mistakes.
11.) I was trading fine until I raised the number of my contracts.
12.) I get impatient waiting for a trade.
13.) Trading mistakes I make seem obvious to when I later review them, but I don't seem to learn from them.
14.) Trading has become a chore and unenjoyable.
15.) I over trade after a windfall which causes me to give back my earnings.
16.) I’m losing money in my trading despite having a reliable methodology.
17.) I feel tense or sick to my stomach when I trade.
18.) I keep making the same trading mistakes – I don’t seem to learn.
19.) I move my stops and targets in my trades.
20.) I become conservative once I win and stop trading even if I haven't reached my plan goal.
________________________
________________________ Total Aggregate Score (add all your responses together)
_________________________ Subscale F-SD Total (1,3,5,7,9,11,14,17,20). Add these together.
_________________________ Subscale G-I Total (4,6,8,10,12,15,18). Add these together.
_________________________ Subscale F-SD/G-I (2,13,16,19). Add these together.
Check your results here
The Man On The Steps Of The Bankruptcy Court :
Today, I’m going to tell you a story that really inspired me, made me laugh and got me personally to understand something important about wealth and more importantly, living life.
This is a story about a man who got very, VERY wealthy, he had many millions and businesses all over the place.
Then something hideous and unforeseen happened, and he lost the lot and then some and found himself in bankruptcy court.
When he came out, he had absolutely nothing left.
Coming down the steps, he spots one of the creditors and calls him over and right there on the steps, sets up his NEXT business deal!
What this guy knew was HOW TO MAKE MONEY – period.
He would always make money because he knew HOW it is done. In principle.
That’s what I always wanted to know too, because if you know that, then you just can’t fail.
“It’s never about “the” money, but about how to make it.”
Take 60 Seconds now to recall an inspirational story that MADE ITS MARK ON YOU like this one did on me.
Close your eyes, take a deep breath and DO IT NOW!
Today, I’m going to tell you a story that really inspired me, made me laugh and got me personally to understand something important about wealth and more importantly, living life.
This is a story about a man who got very, VERY wealthy, he had many millions and businesses all over the place.
Then something hideous and unforeseen happened, and he lost the lot and then some and found himself in bankruptcy court.
When he came out, he had absolutely nothing left.
Coming down the steps, he spots one of the creditors and calls him over and right there on the steps, sets up his NEXT business deal!
What this guy knew was HOW TO MAKE MONEY – period.
He would always make money because he knew HOW it is done. In principle.
That’s what I always wanted to know too, because if you know that, then you just can’t fail.
“It’s never about “the” money, but about how to make it.”
Take 60 Seconds now to recall an inspirational story that MADE ITS MARK ON YOU like this one did on me.
Close your eyes, take a deep breath and DO IT NOW!
Check your Chart Analysis
Do you want to check your chart study pattern?
Do you wish to do this without real money involved?
Check this out :thumb:
http://www.chartgame.com/play.cgi?tgb8tb-2
Do you want to check your chart study pattern?
Do you wish to do this without real money involved?
Check this out :thumb:
http://www.chartgame.com/play.cgi?tgb8tb-2
Last edited:
Ras30
Many unsuccessful and successful traders over a period of time believe that the market is highly oversold or highly overbought.They then keep their opinion rigid and get stuck in counter trend trading.
I always believe in the old adage , " The Trend is your friend until it bends".
All classical Technical Analysis including Dow Theory, Elliot Waves point to the fact that 90% of all your trades should be done trading with the Trend and only 10% of the trades should be done against the trend.
Going by the above statistic , it would be wiser to stay out of the trade if you are trying to trade against the trend.
So the bottom line is
STOP trading counter-trend!
Some articles for your reference.
http://www.yourtradingcoach.com/Articles-Learning-To-Trade/Struggling-Counter-Trend.html
http://www.elitetrader.com/vb/showthread.php?t=276597
http://www.tradingconceptsinc.com/5176/trend-trading-vs-counter-trend-trading/
http://lessons.tradingacademy.com/article/trendcounter-trend/
Many unsuccessful and successful traders over a period of time believe that the market is highly oversold or highly overbought.They then keep their opinion rigid and get stuck in counter trend trading.
I always believe in the old adage , " The Trend is your friend until it bends".
All classical Technical Analysis including Dow Theory, Elliot Waves point to the fact that 90% of all your trades should be done trading with the Trend and only 10% of the trades should be done against the trend.
Going by the above statistic , it would be wiser to stay out of the trade if you are trying to trade against the trend.
So the bottom line is
STOP trading counter-trend!
Some articles for your reference.
http://www.yourtradingcoach.com/Articles-Learning-To-Trade/Struggling-Counter-Trend.html
http://www.elitetrader.com/vb/showthread.php?t=276597
http://www.tradingconceptsinc.com/5176/trend-trading-vs-counter-trend-trading/
http://lessons.tradingacademy.com/article/trendcounter-trend/
Here are a few references for people trading from home.
http://www.youtube.com/watch?v=7VCsbuFN1JU
http://www.moneymakermagazine.co.uk/taking-the-plunge-trade-from-home-full-time/
http://blogs.stockcharts.com/journal/2012/09/a-traders-discipline-how-i-stay-the-course.html
http://www.youtube.com/watch?v=7VCsbuFN1JU
http://www.moneymakermagazine.co.uk/taking-the-plunge-trade-from-home-full-time/
http://blogs.stockcharts.com/journal/2012/09/a-traders-discipline-how-i-stay-the-course.html
Everything You Wanted To Know About Visualization for Trading
Ever wondered how to make visualization work for trading ?
Here is one of the best articles I came across on the net.
A fantastic three part series on " How to use visualization in trading?"
http://www.smbtraining.com/blog/everything-you-ever-wanted-to-know-about-visualization-part-1
Ever wondered how to make visualization work for trading ?
Here is one of the best articles I came across on the net.
A fantastic three part series on " How to use visualization in trading?"
http://www.smbtraining.com/blog/everything-you-ever-wanted-to-know-about-visualization-part-1
The Secrets to Emotion free Trading
By Larry Levin
I strongly suggest to all fellow traders to read this book.:thumb:
http://www.autotradingfx.com/files/private/EmotionFreeTradingBook.pdf
A Review about this book
What the book is about:
This book is a comprehensive guide to the dos and don’ts of trading.
As you would expect from the title it advocates taking the emotions out of trading (providing advice on the psychology required to be a successful trader).
We begin with a cautionary tale of two traders (One who can control his emotions and one who can’t).
The book is then broken down into three main sections.
The skills you need to foster in order to become successful (including having a set of TRADING RULES).
The skills (habits and attitudes) you should avoid and neglect.
Self Development. The book recognises that self improvement is a big part of being a successful trader and hence provides this section on visualization and Psycho Cybernetics.
Although we may all trade different strategies and timeframes I believe that anyone considering trading should read this book first.
There are different guides and reference books out there for Forex, Options CFD’s etc but whichever vehicle you decide to trade there are useful nuggets of golden information in here.
By Larry Levin
I strongly suggest to all fellow traders to read this book.:thumb:
http://www.autotradingfx.com/files/private/EmotionFreeTradingBook.pdf
A Review about this book
What the book is about:
This book is a comprehensive guide to the dos and don’ts of trading.
As you would expect from the title it advocates taking the emotions out of trading (providing advice on the psychology required to be a successful trader).
We begin with a cautionary tale of two traders (One who can control his emotions and one who can’t).
The book is then broken down into three main sections.
The skills you need to foster in order to become successful (including having a set of TRADING RULES).
The skills (habits and attitudes) you should avoid and neglect.
Self Development. The book recognises that self improvement is a big part of being a successful trader and hence provides this section on visualization and Psycho Cybernetics.
Although we may all trade different strategies and timeframes I believe that anyone considering trading should read this book first.
There are different guides and reference books out there for Forex, Options CFD’s etc but whichever vehicle you decide to trade there are useful nuggets of golden information in here.
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